The title industry has its own language. Many of its words and idioms are derived from the language of the law while others are common words given special meaning related to land titles. There are also words and phrases coined over the years by the title industry itself.
The purchaser under a sale contract of real estate.
The seller under a sale contract of real estate.
Binding on no one, kaput, constituting a nullity. Something which is conclusively of no effect, the defect of which is not subject to being waived, revitalized or cured by confirmation or ratification.
Sufficiently defective to make void, the deficiency, however, being curable by confirmation or ratification.